Fully Leased Medical Office
For Sale
$3,979,066
3880 Coconut Creek Pkwy, Coconut Creek, FL 33066
10,644 SF medical office building with long-term NNN tenants.
Property Size10,644 SF
Price / SF$373.83
Days on Market205
Property Features for 3880 Coconut Creek Pkwy
General Information
Standard status
Active
Size
10,644 SF
Property subtype
Commercial
Occupancy
100%
Net Operating Income
$238,744
Building Details
Building Size
10,644 SF
Year Built
1977
Listing Agency:
Matthews
Listed By:
Grant Steinberg · License #License No. SL3539035 (FL)
(561) 282-6246
Source:
Matthews
Added: Apr 1
Changed: Oct 7
Last Checked: Oct 20 at 5:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews
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Investment Insights
Based on property information with market context.
This 10,644 SF medical office building is fully leased to six long-term tenants on NNN leases. The property is located in central Broward County, with accessibility to the Turnpike. As one of the only medical plazas in the immediate area, tenants benefit from a strong suburban and aging patient base. Ample on-site parking ensures accessibility for patients. The building is positioned on a hard corner with monument signage, offering visibility to over 26,000 vehicles per day. The location provides branding potential for current and future tenants. The property benefits from stable in-place cash flow with below-market rents, offering future upside. Strong annual rent increases are in place. The surrounding trade area is growing, with a dense suburban population.
Key Highlights
- 100% occupied nnn leased medical building: provides stable in‑place cash flow.
- Prime central broward county location: offers easy access and proximity to the turnpike.
- Below market rents: presents future upside potential.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$282,119
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,642,380
$5.6M
Cap Rate 7%
$4,030,271
$4.0M
Cap Rate 9%
$3,134,656
$3.1M
Market Conditions
NOI Build-Up for 10,644 SF
Gross rent
$485.4K $45.60/SF
− Vacancy
−$109.2K −$10.26/SF
EGI
$376.2K $35.34/SF
− OpEx
−$94.0K −$8.84/SF
NOI
$282.1K $26.51/SF
Area
Broward County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,642,380
Cap Rate 7%
$4,030,271
Cap Rate 9%
$3,134,656
Alternative Uses
Best Use
Office B
$4.03M
$3.53M – $4.70M
NOI $282,119 @ 7.0% cap · market cap 7.09%
Second Best
Healthcare Medical
$2.00M
$1.75M – $2.34M
NOI $140,245 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$5.40M
$4.73M – $6.30M
NOI $378,011 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33066, FL
16,845
Population
10,418
Households
1.6
Avg Household Size
56
Median Age
36%
College-Educated
93%
High-School Grad
3.0 sq mi
ZIP Area
5,615
Density / Sq Mi
$56,721
Median Household Income
$39,353
Median Earnings
$1,677
Median Rent
$212,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 10,644 SF medical office building with long-term NNN tenants.
Where is this medical office space located?
The property is located at 3880 Coconut Creek Pkwy Coconut Creek, FL.
What is the asking price?
The asking price for this property is $3,979,066.
What are key features of this property?
This property features: 100% occupied nnn leased medical building: provides stable in‑place cash flow.; Prime central broward county location: offers easy access and proximity to the turnpike.; Below market rents: presents future upside potential.
